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Chinese Yuan Plunges to 2020 Low As Coronavirus Spreads

The Chinese yuan is plunging to its lowest level of 2020 as the Wuhan coronavirus outbreak intensifies. Despite the world’s second-largest economy showing signs of a rebound, the consensus is that China will reverse its gains and struggle to stay afloat, especially if some reports that the virus will intensify in April and May are correct.

US Dollar Gains as Risk Aversion Rises

US dollar is heading higher today, gaining as risk aversion rises, and concerns about the future of the eurozone dominate world markets. Greenback is getting a boost as a safe haven as Forex traders shun high beta currencies.

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